Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: KuCoin against BingX−0.067%7-day average +0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$319as in the Funding arb table

Net, price: spread back to 7d avg − costs−$330as in the Price arb table

costs, in and out, $10k−$3193.188% of the position

Long on BingX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.002%$0 on $10k

Price spread, last 4 days (all we have)+0.096%+$10 · spread now −0.067%, 7d avg +0.047%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.114% cheaper against BingX than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.047%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX W-USDT	0.01190	0.0100	pay 0.0050% / 4h	1h 30m	—	$6.8M	—
Short	KuCoin WUSDTM	0.01189	0.0100	get 0.0050% / 4h	1h 30m	$386K	$213K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee KuCoinbpOrdersPrice spread, now −0.067%Rate

Funding earned: $0
Price spread: −0.067% → +0.047%: −$11.43
Slippage, 4 orders: −$296.83
Fee BingX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$330.25
Costs to cover: 3.188%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; KuCoin: live order book, 67 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 7 min ago	3.80 bp	27.2 bp −$27	98.2 bp −$982	649.8 bp −$65.0K	1089.0 bp −$544.5K
Sell KuCoin live order book, 67 min ago	16.88 bp	115.8 bp −$116	297.4 bp −$2,974	doesn't fit	doesn't fit

W on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit W_USDC-PERPETUAL	−0.0254%	1h	0.01190	+0.050%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+1.614%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01190	+0.017%	$2.0M	$383K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01190	+0.008%	$3.0M	$6.6M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01189	−0.092%	$4.2M	$1.9M	50x	as long as short
OKX W-USDT-SWAP	+0.0100%	4h	0.01189	−0.025%	$1.3M	$1.9M	20x	as long as short
Gate W_USDT	+0.0100%	4h	0.01187	−0.235%	$449K	$253K	75x	as long as short
MEXC W_USDT	+0.0100%	4h	0.01190	+0.008%	$12.9M	$1.4M	50x	as long as short
KuCoin WUSDTMshort	+0.0100%	4h	0.01189	−0.067%	$386K	$213K	50x
Bitget WUSDT	+0.0100%	4h	0.01190	+0.017%	$1.3M	$570K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDTlong	+0.0100%	4h	0.01190	long leg	—	$6.8M	—
Variational Omni W	+0.0100%	4h	0.01187	−0.205%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01188	−0.149%	$126K	$413K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01189	−0.034%	$61K	$237K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0312%	1h	0.01190	+0.050%	$14K	$16K	50x	as long as short
Backpack W_USDC_PERP	+0.0587%	1h	0.01192	+0.210%	$44K	$47K	15x	as long as short
Kraken Futures PF_WUSD	+0.1704%	1h	0.01193	+0.232%	$148K	$184K	20x	as long as short